Kingsoft Cloud Holdings Limited (NASDAQ:KC) Short Interest Up 10.1% in March

Kingsoft Cloud Holdings Limited (NASDAQ:KCGet Free Report) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 7,200,000 shares, an increase of 10.1% from the February 29th total of 6,540,000 shares. Based on an average daily trading volume, of 1,440,000 shares, the short-interest ratio is presently 5.0 days.

Institutional Trading of Kingsoft Cloud

Hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in shares of Kingsoft Cloud by 129.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,863,100 shares of the company’s stock valued at $11,309,000 after buying an additional 1,052,088 shares in the last quarter. BlackRock Inc. raised its stake in shares of Kingsoft Cloud by 35.9% in the 1st quarter. BlackRock Inc. now owns 3,483,442 shares of the company’s stock valued at $21,147,000 after buying an additional 919,363 shares in the last quarter. State Street Corp raised its stake in shares of Kingsoft Cloud by 53.4% in the 1st quarter. State Street Corp now owns 1,752,811 shares of the company’s stock valued at $10,640,000 after buying an additional 609,961 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Kingsoft Cloud by 33.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,224,912 shares of the company’s stock valued at $7,435,000 after buying an additional 303,984 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Kingsoft Cloud by 345.8% during the 1st quarter. JPMorgan Chase & Co. now owns 348,582 shares of the company’s stock worth $2,116,000 after purchasing an additional 270,390 shares in the last quarter. 13.40% of the stock is owned by institutional investors.

Kingsoft Cloud Price Performance

Shares of Kingsoft Cloud stock opened at $3.15 on Tuesday. Kingsoft Cloud has a fifty-two week low of $2.34 and a fifty-two week high of $10.13. The firm has a fifty day moving average price of $2.90 and a two-hundred day moving average price of $3.82. The company has a market cap of $799.12 million, a PE ratio of -2.44 and a beta of 2.13.

Analysts Set New Price Targets

KC has been the subject of several recent analyst reports. CLSA raised shares of Kingsoft Cloud from an “underperform” rating to an “outperform” rating and set a $4.40 price objective for the company in a report on Thursday, March 21st. JPMorgan Chase & Co. raised shares of Kingsoft Cloud from a “neutral” rating to an “overweight” rating in a report on Monday, March 11th. Citigroup raised shares of Kingsoft Cloud from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a report on Thursday, March 21st. Finally, Jefferies Financial Group upped their price objective on shares of Kingsoft Cloud from $3.40 to $3.80 and gave the stock a “buy” rating in a report on Monday, March 25th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.55.

Read Our Latest Stock Analysis on Kingsoft Cloud

About Kingsoft Cloud

(Get Free Report)

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations in China. The company's products portfolio includes cloud products, including infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, and software as a service (SaaS) applications that primarily consist of cloud computing, storage, and delivery solutions.

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